maria: welcome back. good friday morning, everybody. thanks very much for joining us this morning. i'm maria bartiromo. it is friday, january 12, 7:00 a.m. on the east coast. time for the hot topic of the hour. president biden will reemerge for the public today after three days without making any public appearances. raising questions. he's visiting allentown, pennsylvania today, expected to tout bidenomics and the state's, quote, economic comeback. white house correspondent peter doocy grilled the administration on why biden has been kept from public view in the last few days, even as the presidential campaign season is heating up. watch. >> tuesday, wednesday, thursday, none of his constituents have seen him doing anything. who decided that the american people are best served by seeing less of the president? had. >> the president is active. the president is doing what he needs to do to deliver for the american people and he'll continue to do that. maria: the washington post is reporting that biden is holding private meetings at the white

house to reassure supporters. they write this, biden has held roughly a half a dozen meetings in groups ranging from four to eight people since he launched his campaign back in april. the many of them occurred just before the holidays. the conversations have covered a range of topics including how to take on former president donald trump, the israel, gaza conflict and abortion rights. krysia, your reaction and does it raise eyebrows in your mind that we haven't seen non three days? >> -- seen president biden in three days. >> it does, especially with what came out with lloyd austin, makes us question is joe biden experiencing health problems or questions about his age, mental acuity and general well-being. why hasn't he been out there? jilthere?they've taken a stancee adds to his wisdom, but he's putting a lid on it, every issue. last night he can't come out and make a statement going against

the houthis. there's a lot of concerns here. this is basically the one issue that both democrats and republicans y aagree upon, 60% f democrats believe joe biden is too old. age is certainly a part of his schedule and why we're not seeing him do basically anything. manything. maria: what do you think, jill biden was asked about the growing concerns over president biden's age during an interview with msnbc yesterday. want to play a little of that. she also defended hunter biden. watch this. >> he can do it. and i see joe every day. i see him out, you know, traveling around this country. i see his vigor. i see his energy. i see his passion. every single day. >> so to those who say i can't vote for joe biden, he's too old, what do you say. >> i say his age is an asset. >> he's wise. >> yes, he's wise, he has

wisdom, has experience, he knows ever leader on the world stage. he lived history. he knows history you. maria: i'm sure knows every leader out there on the world stage, cheryl but she sees the vigor, she sees the energy. what is she seeing that we don't see? >> what she is seeing is they need to figure out how to make sure he stays in offs a. office. of course she went to msnbc. why wasn't he there? something doesn't seem right in all of this. when you see him being held up -- she literally was holding his hand, walking off of the stage. i mean, she was leading him off the stage. everyone saw it. you can't unsee those images. so of course she's going to go on there and defend him and say everything is great. he's doing great. who is running the white house. we couldn't figure out who was running the pentagon for a week. i would say as far as hunter

biden had, look, she said i love my son. of course you love your son. i mean, nobody's saying you don't love your son. your son also was in court this week on tax evasion charges. he owes millions of dollars in back taxes. so we don't -- none of us really love had that. so to be clear, we disagree with that part of the love in this relation sip. mship.maria: she loves her son. mitch, if you believe the oversight committee's findings of potential bribery, she loves the gravy train as well. the gravy train, his relationships with leaders across the world that may have or reportedly allegedly paid him millions of dollars for influence peddling. >> it's an incredibly sophisticated scheme, when you have llcs and this is the world i come from, stacked on top of each other to basically launder money, what could you possibly think was the case?

you know, it really reminds me sort of a kid with candy wrappers all over the desk saying i didn't eat any candy. right? i mean, it's so obvious to me and everybody else that something fishy is going on and of course she's going to defend it but to the point about his appearance, if you do something which is a sign of strength like attack the houthis, wouldn't you think the west wing would want to get him in the front of the cameras to the take a victory lap especially since lloyd austin is awol. what an opportunity lost. he must be out out of it to not put him m if front of the cameras at a moment they want to take credit for something. maria: what do you think, krysia. >> i agree, this is a huge moment lost. that's been joe biden's presidency all along. he's been awol, including kamala harris as well for that matter. they have both of their significant others out on the

campaign trail. i think this is what we'll continue to see as we go forward, joe biden remains in the basement. he can't even make a statement. we're about -- we're possibly entering world war iii with iran right now which is part of joe biden's poll circumstance giving money to iran, why we're in the situation we're in right now. it makes total sense he doesn't want to stand out they there because he put us in this quagmire. maria: markets are off of the lows of the morning. the major banks are reporting earnings this morning. we've got a mixed picture there. jp morgan and bank of america, wells fargo is also out. we are standing by right now for citi. take a look at the stocks, jpm has now reversed course, and is trading up on the better than expected quarter at jpm. the stock this morning up 285, the others are negative the. the word on wall street panel is here weigh in. next week, we'll be live, broadcasting out of davos, switzerland for the world economic forum. i'll speak with top ceos, get their take on the state of the

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maria: welcome back. it is time for the word on walll street. joining me is former gartman letter editor, dennis gartman, ken leon, research director with me as well along with mitch roschelle. ken, thank you for joining the conversation. i want to kick things off with you because we are looking at a busy morning of big bank earnings and between the adjusted and nonadjusted can take you from a beat to a miss so we want to get your the take on how you read these numbers. jp morgan reported a double beat, wells fargo also beat on revenue but missed on earnings per share, net income was up to $3.45 billion and then there's bank of america beating on earnings but missing on revenue. we're waiting on citigroup. they'll report at 8:00 a.m. eastern. walk us through these numbers,

ken. how do you read the jp morgan quarter first? >> it's great to be here and i think for jp morgan it's all about quality. that shows in the return of capital and the underlying businesses are still very stable and poised for really growth in 2024. court quarter was a messy quarter because of one-time charges. bunch of categories but for jp morgan it's just contributing back to the fdic for the bank problems. overall, loan quality is still good. and also when we look at the investment banking it's not going to be v-shaped in the first quarter if you will this year but we're going to see healthy growth in investment banking fees and underwriting and m&a in '24. maria: i'm glad you mentioned the sloppiness or the messy quarter because when you look at the jp morgan quarter on an adjusted basis versus an unadjusted basis, this is a very different situation. are you looking at the adjusted

number of $3.97 a share? or are you looking at unad justed, which is $3.4 because of the charges that you refer to? >> so we're clearly looking at operating normalized and also using adjusted to have the base for '24 outlook and really '23 is behind us so i think what's important is what are the revenue and the earnings drivers here for jp morgan and generally because rates have flipped from moving higher to now going lower but if the spreads stay good between the fed funds window and what banks loan, we could still see pretty healthy net interest income and we did see those in the jp morgan numbers today for the fourth quarter. maria: that's right. and jamie dimon really previewed it for us. he joined me in an exclusive interview this week and talked to me about the quarter, saying that they are over-earning on net interest income. here's what jamie told he me

earlier in the week. watch. what about the future, jamie, what kind of a '24 are you expecting? >> we had a strong year. we are over-earning on nii and credit. i'm much less worried about the economy and the strong year and what's going to happen next year than the geopolitical stuff. maria: dennis, he's expecting a rocky world with regard to geopolitical events. he's very worried about that. he says that the deficit and the debt will in fact at some point affect markets. >> not a question. he should be worried about the geo had political circumstances that prevail. i wake up every morning and wonder whether what's happened in the suez canal, what's happened between india and pakistan, between india and china, what happened with the election in taiwan. it's a year we have to be concerned about geo politics probably more than the last several years and i think it's going to be a very volatile

circumstance so i think he's absolutely right. more concern about what's going on geopolitically than what's going on domestically. i think jamie dimon is absolutely correct. maria: look at the treasury yield this morning on the 10 year ahead of the december ppi number which is out in about an hour and 15 minutes. interest rates are below 4% again, dennis. look, we're looking at the 10 year up 3.7 basis points right now, sitting exactly at 4%, 4.00%. ahead of the ppi. we'll get the number in an hour and 15 minutes and the expectations call for a gain of one tenth of a percent month to month and gain of 1.3% year to year. you had cleveland's federal reserve president saying it's premature for the federal reserve to consider cutting interest rates in march as larry sommers said a u.s. soft landing is a very real possibility now as inflation cools so what are your thoughts in terms of the macro story? do you get a sense of how 2024

may play out from these bank numbers? >> we have to remember that ms. nestor has been one of the preeminent hawks for years. it's a question of whether she will be remace and by whom. i agree with her, i think the propensity for the fed to cut overnight fed funds rate five or six times is ill advised the propensity to cut one or two times, maybe in the summer or early autumn is a more likely circumstance. i think she's spot-on. remember, she has always been hawkish. maria: yep. mitch, how do you see it? what's your assessment of these bank earnings, mitch? you know, the only one trading higher is jp morgan. this is what we usually see, vp morgan is the safe harbor in the storm and it continues to churn out strong numbers, has been doing so under jamie's watch, he's been ceo since 2005. >> one of the numbers that

cheryl t rattled out earlier was b of a adding over $1 billion to their loan loss reserves. and that's the thing that sort of frightens me the most. the consumer has over a trillion dollars worth of credit card debt and i think that's one of the bigger bubbles out there that nobody's paying enough attention to. if the economy begins to falter and inflation rears its ugly head again, i think that we're going to see more and more defaults on consumer debt and we may -- we've already started to see this in residential mortgages, foreclosures ticking back up again. so i think there are a fair amount of headwinds for these banks. jp morgan may be bigger and better diversified than the more consumer oriented banks but i do think it's a risk for 2024. maria: well, look, we haven't even gotten into the regulations and the capital proposals that are coming out of basel-i ii. he has to old 30% more capital

than his foreign competitor. we're going to take a short break and come back. dennis, ken, thank you for being with us this morning. quick break and then hunter biden pleading not guilty to nine federal tax charges yesterday, my next guest was in the room when hunter pulled his latest stunt. south carolina congressman russell frye is here to tell us how it all went down. you're watching "mornings with maria" live on fox business. only at vanguard, you're more than just an investor, you're an owner. our financial planning tools and advice can help you prepare for today's longer retirement. hi mom. that's the value of ownership.

>> how have you been coping personally with the onslaught of accusations against your husband and your family including and especially hunter? >> i think what they are doing to hunter is cruel. and i'm really proud of how hunter has rebuilt his life after addiction. i love my son and it's had -- it's hurt my grandchildren. maria: blame it all on addiction, that was first lady jill biden, slamming the gop's treatment of hunter biden, responding to a question, you how she's coping. republicans are not slowing down in their investigation. jim jordan now demanding fbi director chris wray turn over a 2017 fbi memo that's a 1023

form, concerning a confidential human source report about foreign payments made to the biden family. the committee says this record was once again referenced in a second fbi 1023 form from the year 2020. that form detailed bribery allegations involving joe and hunter biden. hunter meanwhile pled not guilty yesterday to nine federal tax charges in a los angeles courtroom. joining me is south carolina congressman, russell frye, member of the house judiciary and oversight committees. he was in the room when hunter crashed the contempt of congress hearing. congressman, that was really interesting. you're there doing your hearing on contempt of congress charges against hunter biden. when did you first recognize that actually hunter biden was sitting in the audience? >> i think we knew something was going on when secret service started to parole or go through the room and make sure everything was okay and you're going well, who is coming and then the rumor was, well, hunter might be showing up and wow,

that's news to us because we're not here to do a deposition of him. why would he even be here? then he crashed the hearing with his art a purchaser who is doing a documentary on him and he stayed for a few minutes and left. maria: the art purchaser that you mentioned, this is kevin morris. i know your committee, james comer told me he asked kevin morris to come in and speak to him and kevin morris said no, i can't come because i'm on vacation from thanksgiving to new year's and i'm out of the country. meanwhile, there he was when hunter pulled the other stunt on the senate side, standing right behind hunter biden. this is a guy who has paid millions of dollars toward hunter biden's taxes and lent him money and he only met him like two weeks earlier. so what's the story with kevin morris? why does keep paying hunter's bills? >> what's what we want to get to the bottom of. we had the art dealer come in this week i believe who testified that there was a weird arrangement between mr. morris

and hunter biden and this is the guy that purchased art that we know about, $875,000 of hunter's incredible art career and so we have questions about this. obviously he is a big democrat do-- donor. he's doing a documentary if you will on hunter biden. again, i think the arrogance of the both of them showing up this week just speaks volumes and for the left to kind of perpetuate this nonsense that oh, he's a victim and please look at what he was going through, i don't know how the american people really square that up. in fact, they don't because they look at this as total hypocrisy and per per pet weighs of the o tiered system of justice that you can hide behind your family name and do what you want to do. maria: there's a new report from politico. it reveals that the january 6th committee helped georgia da fannie willis during the early days of her trump investigation. that was in the spring of 2022

when the committee's staff apparently helped fulton county prosecutors prepare for interviews with key witnesses. lance gooden writes this, this is a bombshell report, the january 6th committee members should preserve their records, subpoenas are coming. congressman, what should we understand about this? >> i think you have a separation of powers issue. you have a committee, january 6th committee that should not link up with a prosecutor to really do their homework. fannie willis, she's had a pretty bad week, all the things that are going on but this committee seems to be pushing the investigation, pushing the prosecution of president trump and you don't see that. there is information that's often shared between committees and prosecutors, this happens. but it looks like they've been doing the homework for the prosecutors in georgia.

maria: so where do you see all of this going, congressman? i mean, look at what we're talking about. you all have this deadline, we may very well have a government shut down on january 19th, if not then, maybe february 2nd. you can't you a agree on spending levels. you've got investigations of impeachment, potential impeachment of mayorkas, potential impeachment of joe biden. and the year is just starting. we've got a wide open border, national security issues front and center. >> it's going to be a big year. it's going to be a busy couple months. i think different committees are focused on different things. what we're focused on in oversight and judiciary are these investigations, what is going on. i mean, we have uncovered more in the last year than law enforcement has ever brought to the forefront. hunter biden yesterday pled not guilty. that was because house republicans have been pushing this investigation going wait, you're going to give this guy a sweetheart deal? we've got a lot of work to do. the border is an absolute disaster because of the the

policies of this administration. we've got national debt that clicked over $34 trillion. we've got a lot of work to do. we're going to keep doing our work. maria: real quick on the border, greg abbott ordered the state's national guard to seize control of a public park in eagle pass, texas, it's been overwhelmed by illegals. abbott's emergency declaration blocks federal border agents from entering the park which was used as a migrant shelter. the house oversight committee looking at how policies undermined immigration hearings. >> they terminated, 64 actions they defied laws, to encourage immigration into our country. including bastardize aation of the parole and asylum process, eliminated agreements with central and south america, terminated the remain in mexico policies.

i think that's key as we look at mayorkas and his performance really key to uncovering what is going on. maria: just extraordinaire he rim congressman, thank you -- just extraordinary. congressman, thank you. we appreciate your time. russell frye in d.c. this morning. we'll be right back. i got into debt in college and, no matter how much i paid, it followed me everywhere. so i consolidated it into a low-rate personal loan from sofi. get a personal loan with low fixed rates. borrow up to $100k. and no fees required. sofi. get your money right.

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in the app, to the pharmacist. i found a cheaper price with singlecare! i know. download the singlecare app free today. maria: welcome back. another blow he to president biden's climate change agenda. cheryl casone with details. cheryl. >> here we go, maria. the house voting to overturn president biden's buy america waiver for electric vehicle chargers they say it's a give away to cha who is the leader in electric vehicle and battery production. two democrats voting with republicans. this as hertz is selling a third of its global ev fleet, after the company planned to grow the fleet of plug-ins a year ago.

several automakers put ev plans on ice as consumer demand has p waned. google is cutting hundreds of jobs, they continue to work to cut costs. a few hundred employees working on google voice assistant and augmented reality hardware in the latest round of cuts. google is focusing on the race for a.i. and focusing on the chat bot more than anything. remote workers are falling behind their peers when it comes to coming in the office versus, well, staying at home and if you do or don't get promoted. so get this. over the last year remote workers were promoted 31% less frequently than people who worked in the office, either they were full-time or hybrid. but those employees that were working from home or at the hybrid employees got less mentorship, less collaboration, less productive.

there is shares of alphabet, the parent company of google. those are some of your headlines. back to you. maria: thank you so much. breaking news this morning, the u.s. and the u.k. retaliating to houthis using jets, war ships, subsubmarines, striking 60 targs at different houthi military sites in yemen, happening overnight, hitting air defense systems, weapons facilities and launch sites. white house correspondent jacqui heinrich is live from the white house this morning with the late. jack. kiyana: >>jackie.>> the president calla direct response to the houthi attacks on commercial shipping that impacted about 50 nations across the world with 20 countries having been threatened or taken hostage, had their people taken hostage in acts of piracy. the last straw was on tuesday when the houthis launched their most complex attack to date, directed at u.s. ships in the region and that was after the

final warning that the u.s. and its allies issued to the iran backed militia earlier this month. biden said in a statement, quote, today's defensive action follows extensive diplomatic campaign and houthi rebels escalating attacks against commercial vessels. i won't hesitate to direct further measures to direct our people and free flow of international commerce as necessary. the u.s. and u.k. coalition forces struck more than 60 targets and 16 houthi locations, radar systems, defense systems, missile storage and launch sites including. australia, netherlands and bahrain led support. the houthis claim five people died and six w injured. republicans welcomed this response, mike johnson said this is long overdue and we must hope the operations indicate a shift in the biden administration's approach to iran and proxies. ro khanna said the president needs to come to congress before

launching a strike against the houthis in yemen, that is article one of the constitution. i will stand up for that regardless of whether a democrat or republican is in the white house. but remember, this is the same iranian backed militant group that the biden administration took off the foreign terrorist organization list, soon after he took office. listen. >> does the president have any regret over delisting the houthi as a terrorist organization, is he reconsidering that at all. >> i said we are going to review that decision. >> when? >> we are. i said it a couple of weeks ago, that we were going to take a look at that decision and we still are. >> it's still under review as far as we know. the president signed off on this on tuesday. he asked his national security team to give him options, lloyd austin monitored this from the hospital, walter reed, where he

is a possible. it looks like the houthis got a two hour heads up that this was happening. there were leaks from reporters in the u.k., just about two hours before the strikes happened, saying that it was imminent. no leaks from the u.s. side. but that's pretty unusual, maria. maria: so they were able to prepare then? >> theoretically, yet. you hear the administration say all the time we're not going to telegraph our punches, we say where with is the response to iran, what are you going to do and a few hours later something happens. you don't want to get people a heads up so they can get themselves or assets out of the way. u.k. reporters reported on it two hours before it happened. first time i've seen anything like that happen in my experience covering this white house. maria: you're right. i was getting texts from sources m they the the u.k. saying we think this is going to happen, something is happening. you're right. there was obvious leaks. thank you. jacqui heinrich at the white house this morning. take a look at futures this

morning, we've got foreign policy, economic policy on the agenda this morning. because it is a busy day of bank earnings. take a look at markets. dow industrials right now down 155, nasdaq down 49, s&p 500 down 12 points. once again, jp morgan is looking like the safe harbor in the storm. it reported a double beat they the last hour, a take a look at the stocks, wells fargo beat on revenue but missed on earnings, net income was up to $3.45 billion. bank of america beat on earnings but missed on revenue and the stocks this morning are mixed. jpm is up 1 and three quarters percent. bank of america is down more dod two thirds percent. we'll get citigroup numbers at 8:00 a.m. wells fargo is down 1 and a third percent. bank of new york is up a fraction. let's get the story on bank earnings this morning with chief financial strategist dick bove. i'm happy you're here. we've been dealing with adjusted versus nonadjusted we want to get your sense of how the bank

earnings look. let's start with jp morgan. what's your reaction so far to the overall numbers and what about jpm in particular? >> i think they were moderately positive. in other words, it's almost impossible quickly to go through these numbers and come up with really hard decisions because there are so many one-time writeoffs coming from multiple different places whether the crease in the fdic insurance, the writeoff of long held bonds, whether it those do with shifting of the businesses to meet the requirements of this new what they like to call basel iii end game. you have to separate that out. once you separate that out you take a look at what would be called operating earnings and i think that jp morgan showed and improvement in operating earnings. i think that you are seeing some contradictions, though, bank to bank. in other words, the capital markets activity of jp morgan and of bank of america were weak, whereas they were strong

at wells fargo. plus wells fargo took one very, very sizable capital gain which a allowed it to show the increase in revenues that it is showing so i'd say be really careful looking at these numbers. in terms of what do they say for the future, i think what they're saying is that the economy is moderately better, that the economy is doing a little bit better than people may think it is and it may be you do have a shot at a soft landing. maria: i want to get your take on the macro story as well because as you know, i spoke with jp morgan chairman and ceo jamie dimon earlier in the week and we talked about banking regulation and the pros poseals and you know, dick, you talked about this a lot as well. we're now in the basel end game comment period and jamie gave us his comments on these proposals before they released them. listen to this. >> they require capital levels for the major banks as we are

now nearing the end of the comment period for the basel 3 end game proposals with regulators, what ar is your assessment for these proposals. >> i can't wait for you to see and read if you're willing to the hundreds of pages of comments that are specific about operational risk capital. the capital costs will be embedded in everything. some people said big corporations can afford it. they will also pass it on to customers. it will be passed on in a million different ways. no one looked and said here's the outcome of the changes and we want these outcomes. the outcomes should be what you want. mortgage business is leaving banking, a lot of credit is leaving banking and if that's what they want so be it but i have other serious concerns with this thing. if we have to hold 30% more capital in the us than competitors, foreign competitors in the u.s., i don't think that's appropriate. i have strong objections to it. i think the work was poorly done. maria: so dick, it's two things, it's number one the

rules are targeting large complex institutions like jp morgan but they're also according to jamie dimon putting u.s. banks at a disadvantage to their foreign competitors. your thoughts? >> he's exactly correct. i think everything that he said about these rules is right spot-on. basically, you have to understand that last march when these three companies went bankrupt, it created a shiver through the bank regulators because the president said we would guarantee every dollar of deposit at every bank in the united states which is impossible. it's $19 trillion. it can't be done. what did the regulators then decide? they decide we have to get rid of risk to the taxpayer by making it tougher for banks to take more aggressive actions so they write this report which jamie dimon just referred to, over 1,000 pages, and they're killing the banks with this report. they are going after business as

simple as a home mortgage business and they're a making it more difficult for the banks to participate in that area. they're going after trading. they're going after capital markets. they're going after a wide variety of highly leveraged loan businesses. they're making it almost impossible for the banks to compete head to head with nonfinancial companies and that's why it's very difficult to take a look at the earnings that have come out in the last hour or so and come up with hard conclusions as to the banks are going to do really well in 2024, or the banks are not going to do really well. all i can say, you've got to spend a few hours going through each one of these banks' numbers because the world has changed. the world has changed dramatically for the banks and i think that jamie dimon is probably the best spokesman to indicate how it's changing. maria: yeah. we're waiting on citigroup earnings. they're out in about half an hour, dick. i know you personally own citi. i want to get your expectations there but i also want to know

from you if you believe capital markets businesses are going to come back. that was one of the issues i spoke with jamie about and he said that when he was at the healthcare conference, yeah, there's green shoots, there are deals that are happening and he thinks that maybe 2024 is going to see a return to the action in m&a and ipos. here's jamie on capital markets business in 2024. watch this. >> you're coming off of this little bit of a drought in capital markets activity. i'm wondering if you're getting a sense that the log jam is going to break this year in 2024. >> yeah, i think you've seen part of the log jam actually broke early last year so you see ipos, not as many but they're coming back. slightly different types. saw a couple big healthcare ipos, m&a you're seeing. you can do a $30 billion deal, $30 billion financing today, so yeah, it's open. maria: do you agree with that,

dick? >> yes, i do. i think that basically if you take a look at the fact that the money supply in the united states is actually declining at the present time, that interest rates are substantially higher than they were a couple years ago, that when you see money supply dry up, when you see the cost of that money go up significantly, there's going to be a shift in where companies have to do their business. they're going to have to restructure their balance sheets, have to look more seriously at selling out, they're going to have to consider the fact that operations w that they're in are no longer viable given the cost of money and that leads to a significant increase in investment banking activity. jp morgan did terribly in investment banking in the quarter that just ended, so did bank of america. wells fargo did somewhat better. the fact of the matter is, i do think he's right, this is where the broader if you will macro

ore driving finances in this country. there has to be more investment banking. maria: you make a great point. i'm glad you mentioned what we're talking about, all these charges. if you look at unadd a justadjue earnings were 304, add adjustede earnings were 397. >> you have to take out one-time charges. most of them are not going to be repeated as we go forward. i think you also have to wonder, the banking industry is in a very competitive -- very negative competitive position. that's going to hurt all through this year. maria: you're right. by the way, they're not just competing with traditional banks out there, they're competing with google, right, apple, and all these other fin tech companies. dick, it's always a pleasure. thanks very much for clearing the air for us with all of these bank earnings, what apierce to be a messy quarter with charges, thank you, sir. >> thank you. maria: we'll be right back.

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maria: welcome back. time for the morning buzz. a chicago snowstorm forcing hundreds of illegal migrants to sleep on city busses in order to keep warm. fox business' kelly severy joins

us live from chicago with a look at the warming busses. kelly. all right, kelly, you you know what, you i don't hear you right now. we're going to get the audio fixed and we'll come back to you but this is another impact of the wide open border. i want to get your take, mitch roschelle. now we see busses being used to house illegal immigrants. >> yeah. and by the way, one of those -- how do the climate activists feel about the fact they're burning fossil fuels to keep the busses warm. we have a humanitarian crisis in virtually every major city in the united states and the federal government is doing nothing but enabling this to get worse and worse and worse and chicago has a tremendous crime problem with the exception of all of these migrants.

so chicago and the near bankrupt state of illinois has a lot to contend with right now. maria: yeah. krysia, how do you see it? >> this is exactly what we saw in new york this past week with eric adams putting migrants in schools. it's again america last. new york citizens are paying taxes, the highest taxes there are basically, are being forced to vacate the premises because of migrants coming in that are in every part of our life really. so it's such a shame that our country is at this juncture right now but this is exactly what the democrats have enabled. maria: yeah. i mean, look, cheryl, when you take a look at the impact of this open border, you can understand the fight that is underway right now in washington. the republicans are saying they're going to dig in, unless they see a change in policy, they won't agree to any spending plan. certainly not one that continues nancy pelosi's spending. they're going to say let the

government shut down. t shut down the border or shut down the government. what do you want to do? >> you've got that group of republicans now that are pushing back against speaker johnson and saying the border funding has to be -- and a border security. i don't want to use the word funding. eui'm going to say border security. it has to be on the table. it's a risky move, talking about a government shut youdown, it's an election year, that's the political risk they're willing to take. you're right, maria, you it's got to be addressed enough is enough. when you have democratic mayors, whether new york, chicago, los angeles, speaking out and saying enough is enough, and the fiscal crush that mitch is mentioning here that's happening to these blue cities, then you realize you've got a political problem. so i think the budget fight is going to be one interesting way that the southern border is going to happen and also remember, governor abbott is still fighting with the feds

because every time he tries to secure the bore border to stope flow he ends up in court, ends up being lawsuits. the political side of it, that is one risky want to bring up but also too, one thing about eric adams, hillary vaughn readt into aoc, she goes after her and says if this is your city and the first thing out of aoc's mouth, well, that's not my district. maria: when you look at the fact that these poor people have to be hanging out on busses, okay, just to keep warm because the weather is so bad, you can understand that this wide open border is not good for anybody. not good for the citizens of the big cities in america because we're overloaded with people but it's also not good for the people making the dangerous trek. some of them are getting raped. you heard right.

i hate to say that on morning television. that's the reality of the situation. others are hurt on their way here. when they get here, they have to go on city busses just to keep warm, krysia. >> yes. i mean, it is horrific, it's a humanitarian crisis, over 600,000 women and children are being trafficked. but just to take us to a political lens a little bit, this is going to be the issue that we will see on the national stage when we go to vote and i think it's wise that donald trump, he has been doing this but i think it would be wise if he continues to go to blue cities. i mean, there's even some rumors that he might go to the south bronx because everyone is fed up with this particular issue, it's affecting everyone. maria: it's amazing. this was one of his most important issues when he first -- in his early years of his had term. we will continue to follow that. all right, let's the take a short break. we've got a big hour coming up. you're watching "mornings with maria" live on fox business. we'll be right back.

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